Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
A proposed contribution of developed leasehold land, constructed hotel floors and related infrastructure to an LLP was treated as a taxable supply of service under the CGST Act. The arrangement was regarded as a transaction between distinct taxable persons, with consideration in non-monetary form because the contributor would receive partnership interest, profit-sharing rights and related commercial benefits. The transfer of leasehold and occupancy rights for hotel business was viewed as supply of service in the course or furtherance of business, not as a mere capital contribution or sale of immovable property outside GST. As the transaction did not fall within Schedule III, GST was held leviable on the proposed arrangement.
A proposed contribution of developed leasehold land, constructed hotel floors and related infrastructure to an LLP was treated as a taxable supply of service under the CGST Act. The arrangement was regarded as a transaction between distinct taxable persons, with consideration in non-monetary form because the contributor would receive partnership interest, profit-sharing rights and related commercial benefits. The transfer of leasehold and occupancy rights for hotel business was viewed as supply of service in the course or furtherance of business, not as a mere capital contribution or sale of immovable property outside GST. As the transaction did not fall within Schedule III, GST was held leviable on the proposed arrangement.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
